What’s the point of economic growth when jobs don’t go to Singaporeans?
I refer to the article “Productivity set to grow by 3% – the highest since 2010” (Straits Times, Nov 25).
It states that “As the economy recovers, productivity growth is set to reach about 3 per cent in 2017 – accounting for all, or almost all, the economic growth for this year, Manpower Minister Lim Swee Say said last night.”
With regard to “This will be the highest productivity rise since 2010, and a marked improvement from the 1 per cent growth last year. Productivity growth ranged from -0.2 per cent to 0.9 per cent from 2012 to 2015” – even if productivity growth hits three per cent this year – it may need to be seen in the context that cumulative productivity growth for the last nine years or so, from 2008 to 2016 was only 4.8 per cent.
Leong Sze Hian